Everything You Need to Know
Buying a home is exciting, but making an offer can feel like a high-stakes negotiation. This guide walks you through how to prepare, what to consider, and how to secure the most suitable deal on your future home.
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STEP 1
Research and Preparation
Before making an offer, gather key information to strengthen your position:
- Check Local Sale Prices – Research recently sold properties of similar size and condition in the same area.
- Time on Market – A home that’s been listed for a long time may mean the seller is open to lower offers.
- Seller Motivation – Ask why the seller is moving. If they need a quick sale, they may be more flexible
- Property History – Have there been price reductions or previous offers? If so, why didn’t they proceed?
- Get Your Mortgage in Place – A Mortgage Agreement in Principle (MIP) makes you a serious buyer.
STEP 2
Decide Your Offer Strategy
Not every property will sell at its asking price. Consider these factors:
- If Competition is Low – Start below the asking price to leave room for negotiation
- If Competition is High – You may need to match or exceed the asking price to stand out
- If Work is Needed – Factor in renovation costs when calculating your offer
- If the Seller Needs a Quick Sale – A chain-free, mortgage-ready buyer (like you!) can be more attractive
Making an Offer Tip
Avoid “cheeky” offers that are too low—they can offend the seller and shut down negotiations.
STEP 3
Making the Offer
Once you’ve decided on the amount, follow these steps:
- Submit Your Offer – Call or email the estate agent to formally submit your price and terms
- Put It in Writing – Confirm your offer via email so there’s a record of the terms discussed
- Include Conditions – Example: "This offer is subject to a satisfactory survey and mortgage approval."
- Show You’re a Serious Buyer – Highlight your mortgage approval, chain-free status, and flexibility on move-in dates
STEP 4
Negotiating Like a Pro
If your first offer isn’t accepted, don’t panic! Here’s how to negotiate effectively:
- Ask for Feedback – Why was the offer rejected? Can you adjust terms rather than price?
- Consider a Counteroffer – Increase in small increments if necessary
- Look Beyond Price – Could the seller include appliances or furniture?
- Don’t Overstretch – Know your budget and maximum offer before negotiations begin
Step 5
Next Steps After Your Offer is Accepted
Celebrate! But don’t relax just yet—there are still a few things to do:
- Get It in Writing – The estate agent should confirm the accepted offer in writing
- Instruct Your Solicitor – Begin legal checks and searches
- Arrange a Property Survey – Ensure there are no hidden issues
- Finalise Your Mortgage – Submit your application to move towards exchange and completion
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